When did bitcoin launch

Date    How long has bitcoin been around Created in 2009, Bitcoin existed as a minor, mostly unknown form of currency until around 2013, when it began to be seen as a viable form of payment processing. Bitcoin has surged in recent years, raising its legitimacy and providing an example for other forms of cryptocurrency.

50 Cent accepted bitcoin for his album Animal Ambition in 2014 and reportedly earned 700 bitcoin for it. At the time, bitcoin was $657 and the cost of the album was $13.94. Today, however, the cost of the album would be $1,248 (it wasn’t that good, was it?) and 50 Cent’s earnings from bitcoin would stand at around $41.15 million. 50 has since denied possessing any bitcoin after declaring himself bankrupt in 2015. Anticipating the Future of Bitcoin BlackRock said its iShares bitcoin ETF experienced more than $1bn in trading by the end of the day as the historically volatile bitcoin price jumped early on before pulling back to about $46,000, down slightly from Wednesday’s level.

The interest in cryptocurrencies solidified. Bitcoin's price hovered around $5 for most of the year with several fluctuations. Early that year, Mihai Alisie and Ethereum creator Vitalik Buterin launched Bitcoin Magazine and published their first issue in May. A few months later, the Bitcoin Foundation was established to promote Bitcoin and restore public perceptions of cryptocurrency after several scandals. McCaleb and Chris Larsen founded OpenCoin, which led to the development of the Ripple transaction protocol for currency transactions and real-time payments. Coinbase raised more than $600,000 in its crowd-funded seed round on its way to becoming one of the top Bitcoin exchanges. Satoshi’s legacy: the beginning of a cryptocurrency market Bitcoin block rewards decrease over time. Every 210,000 blocks, or about once every four years, the number of bitcoin received from each block reward is halved to gradually reduce the number of bitcoin entering the space over time. As of 2021, miners receive 6.25 bitcoins each time they mine a new block. The next bitcoin halving is expected to occur in 2024 and will see bitcoin block rewards drop to 3.125 bitcoins per block. As the supply of new bitcoin entering the market gets smaller, it will make buying bitcoin more competitive – assuming demand for bitcoin remains high.

But Bitcoin's latest push is probably due to several factors. Every four years, something known as "Bitcoin halving" occurs. The last halving occurred in 2020, when the reward for mining bitcoin was slashed in half from 12.5 to 6.25. In 2024, that will happen again, cutting the mining reward from 6.25 to 3.125. With fewer Bitcoins entering the market, its possible scarcity could drive up the price, leading to investor speculation today. WHAT CONCERNS SHOULD INVESTORS HAVE? With hindsight, the timing of the release of the bitcoin white paper and launching of the bitcoin network could hardly have been better. Did Satoshi Nakomoto at the time fully grasp the historical significance and unique opportunity presented in autumn 2008 to kickstart a new financial system and motivate people to use a new currency?